Quantum Computing Market

Quantum Computing Market by Applications (Simulation, Machine Learning, Optimization, and Others), Products (Software, Hardware, and Service), End-users (Energy & Utilities, Manufacturing, Healthcare & Life Science, Chemical, BFSI, Aerospace & Defense, IT & Telecom, and Automotive), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-2764
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 1
  • No. Of Pages: 170
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The global quantum computing market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the need for high-level computing performance.

Quantum Computing Market Key Takeaways

Quantum computing is a form of technologically advanced computer system based on quantum theory and quantum mechanics. The quantum computer has been used for quantum computing, which is based on quantum physics concepts. With respect to bits, speed, and data differs from traditional computing. Classical computing includes two bits, 0 and 1, however quantum computing makes use of all states between 0 and 1, resulting in faster processing and superior outcomes. It is mostly applied in research to compare multiple solutions to determine the optimum solution for a complicated problem. The COVID-19 pandemic outbreak has brought a positive impact on the market as the industries are attempting to maintain their digital transformation pace by adapting to the new normal of using remote workstations, which remains a major attribute for quantum computing in the research field.

Market Trends, Drivers, Restraints, and Opportunities

  • Early adoption and implementation of quantum computing in BFSI sector is expected to drive the market growth in the coming years.
  • Rise in investments in quantum computing technology by global space and defense sector is expected to boost the market growth.
  • Complexities in quantum computing implementation to hamper the market expansion.
  • Concerns related to data theft and cyber-attacks present a major restraining factor. This is anticipated to hamper the market growth during the projected period.
  • Rise in usage of quantum computing in the health sciences, particularly in the fields of computer-aided silico modelling and drug design are expected to create a significant growth opportunity for the market in the near future.

Scope of the Report

The report on the global quantum computing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Quantum Computing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Simulation, Machine Learning, Optimization, and Others), Products (Software, Hardware, and Service), and End-users (Energy & Utilities, Manufacturing, Healthcare & Life Science, Chemical, BFSI, Aerospace & Defense, IT & Telecom, and Automotive)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Google Inc.; River Lane Research; International Business Machines Corporation (IBM); Rigetti Computing; QX Branch; D-Wave Systems Inc.; Cambridge Quantum Computing Ltd.; 1QB Information Technologies; QC Ware, Corp.; and StationQ- Microsoft

Market Segment Insights

Optimization segment is expected to grow at a rapid pace

Based on applications, the global quantum computing market is divided into simulation, machine learning, optimization, and others. The optimization segment is expected to grow at a rapid pace during the forecast period owing to the vast adoption of the technology in the region, which requires continuous upgradation and optimization. However, the machine learning segment is anticipated to hold a key share of the market in the coming years as the application carries the ability to handle complex calculation and offer better results for companies to have a competitive advantage in the market.

Quantum Computing Market By Applications

Increasing number of startups to drive service segment

In terms of products, the market is segregated into software, hardware, and services. The service segment is projected to expand at a considerable CAGR during the forecast period attributed to the rise in number of startups across the globe, which are investing in R&D activities for quantum computing. On the other hand, the software segment is anticipated to account for a major market share during the forecast period due to adoption of the application across major industries for competitive results and reduction in errors.

Healthcare & life science segment is anticipated to hold significant market share

On the basis of end-users, the global quantum computing market is segmented into energy & utilities, manufacturing, healthcare & life science, chemical, BFSI, aerospace & defense, IT & telecom, and automotive. The healthcare & life science segment is anticipated to hold significant market share owing to the use of quantum computing in pharmaceutical, which helps in major discoveries with minimal errors.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the global quantum computing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to the presence of several industries, including healthcare, banking, automotive, and chemicals across multiple countries in the region. However, Europe is anticipated to expand at a rapid pace during the forecast period attributed to adoption of technology and incentives offered by government in the region for the market.

Segments

Segments Covered in the Report
The global quantum computing market has been segmented on the basis of

Applications
  • Simulation
  • Machine Learning
  • Optimization
  • Others
Products
  • Software
  • Hardware
  • Services
End-users
  • Energy & Utilities
  • Manufacturing
  • Healthcare & Life Science
  • Chemical
  • BFSI
  • Aerospace & Defense
  • IT & Telecom
  • Automotive
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Google Inc.
  • River Lane Research
  • International Business Machines Corporation (IBM)
  • Rigetti Computing
  • QX Branch
  • D-Wave Systems Inc.
  • Cambridge Quantum Computing Ltd.
  • 1QB Information Technologies
  • QC Ware, Corp.
  • StationQ- Microsoft

Competitive Landscape

Key players competing in the global quantum computing market are Google Inc.; River Lane Research; International Business Machines Corporation (IBM); Rigetti Computing; QX Branch; D-Wave Systems Inc.; Cambridge Quantum Computing Ltd.; 1QB Information Technologies; QC Ware, Corp.; and StationQ- Microsoft. Some of these players are actively engaged in various market development strategies such as capacity expansion, new product launches, acquisition, partnership, collaboration, and mergers to increase their market share.

Quantum Computing Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Quantum Computing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Quantum Computing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Quantum Computing Market - Supply Chain
  4.5. Global Quantum Computing Market Forecast
     4.5.1. Quantum Computing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Quantum Computing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Quantum Computing Market Absolute $ Opportunity
5. Global Quantum Computing Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Quantum Computing Market Size and Volume Forecast by Applications
     5.3.1. Simulation Machine Learning Optimization Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Quantum Computing Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Quantum Computing Market Size and Volume Forecast by End Users
     6.3.1. Energy & Utilities Manufacturing Healthcare & Life Science Chemical BFSI Aerospace & Defense  
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Quantum Computing Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Quantum Computing Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Quantum Computing Demand Share Forecast, 2019-2026
8. North America Quantum Computing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Quantum Computing Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Quantum Computing Market Size and Volume Forecast by Applications
     8.4.1. Simulation Machine Learning Optimization Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Quantum Computing Market Size and Volume Forecast by End Users
     8.7.1. Energy & Utilities Manufacturing Healthcare & Life Science Chemical BFSI Aerospace & Defense  
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Quantum Computing Demand Share Forecast, 2019-2026
9. Latin America Quantum Computing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Quantum Computing Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Quantum Computing Market Size and Volume Forecast by Applications
     9.4.1. Simulation Machine Learning Optimization Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Quantum Computing Market Size and Volume Forecast by End Users
     9.7.1. Energy & Utilities Manufacturing Healthcare & Life Science Chemical BFSI Aerospace & Defense  
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Quantum Computing Demand Share Forecast, 2019-2026
10. Europe Quantum Computing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Quantum Computing Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Quantum Computing Market Size and Volume Forecast by Applications
     10.4.1. Simulation Machine Learning Optimization Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Quantum Computing Market Size and Volume Forecast by End Users
     10.7.1. Energy & Utilities Manufacturing Healthcare & Life Science Chemical BFSI Aerospace & Defense  
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Quantum Computing Demand Share Forecast, 2019-2026
11. Asia Pacific Quantum Computing Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Quantum Computing Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Quantum Computing Market Size and Volume Forecast by Applications
     11.4.1. Simulation Machine Learning Optimization Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Quantum Computing Market Size and Volume Forecast by End Users
     11.7.1. Energy & Utilities Manufacturing Healthcare & Life Science Chemical BFSI Aerospace & Defense  
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Quantum Computing Demand Share Forecast, 2019-2026
12. Middle East & Africa Quantum Computing Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Quantum Computing Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Quantum Computing Market Size and Volume Forecast by Applications
     12.4.1. Simulation Machine Learning Optimization Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Quantum Computing Market Size and Volume Forecast by End Users
     12.7.1. Energy & Utilities Manufacturing Healthcare & Life Science Chemical BFSI Aerospace & Defense  
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Quantum Computing Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Quantum Computing Market: Market Share Analysis
  13.2. Quantum Computing Distributors and Customers
  13.3. Quantum Computing Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Google Inc. River Lane Research International Business Machines Corporation (IBM) Rigetti Computing QX Branch D-Wave Systems Inc.  
Segments Covered in the Report
The global quantum computing market has been segmented on the basis of

Applications
  • Simulation
  • Machine Learning
  • Optimization
  • Others
Products
  • Software
  • Hardware
  • Services
End-users
  • Energy & Utilities
  • Manufacturing
  • Healthcare & Life Science
  • Chemical
  • BFSI
  • Aerospace & Defense
  • IT & Telecom
  • Automotive
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Google Inc.
  • River Lane Research
  • International Business Machines Corporation (IBM)
  • Rigetti Computing
  • QX Branch
  • D-Wave Systems Inc.
  • Cambridge Quantum Computing Ltd.
  • 1QB Information Technologies
  • QC Ware, Corp.
  • StationQ- Microsoft

Key players competing in the global quantum computing market are Google Inc.; River Lane Research; International Business Machines Corporation (IBM); Rigetti Computing; QX Branch; D-Wave Systems Inc.; Cambridge Quantum Computing Ltd.; 1QB Information Technologies; QC Ware, Corp.; and StationQ- Microsoft. Some of these players are actively engaged in various market development strategies such as capacity expansion, new product launches, acquisition, partnership, collaboration, and mergers to increase their market share.

Quantum Computing Market By Key Players

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